Common use of Incentive Compensation Plan Clause in Contracts

Incentive Compensation Plan. Manager shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager shall have an opportunity to receive incentive compensation of up to a maximum of 20% of Manager's annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.

Appears in 5 contracts

Samples: Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc)

AutoNDA by SimpleDocs

Incentive Compensation Plan. Manager shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager shall have an opportunity to receive incentive compensation of up to a maximum of 2035% of Manager's annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.

Appears in 3 contracts

Samples: Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc)

Incentive Compensation Plan. Manager shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager shall have an opportunity to receive incentive compensation of up to a maximum of 2025% of Manager's annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.

Appears in 2 contracts

Samples: Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc)

Incentive Compensation Plan. Manager Executive shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager Executive shall have an opportunity to receive incentive compensation of up to a maximum of 2050% of Manager's Executive’s annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.

Appears in 2 contracts

Samples: Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc)

Incentive Compensation Plan. Manager Executive shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager Executive shall have an opportunity to receive incentive compensation of up to a maximum of 2035% of ManagerExecutive's annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.

Appears in 2 contracts

Samples: Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc)

AutoNDA by SimpleDocs

Incentive Compensation Plan. Manager Executive shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager Executive shall have an opportunity to receive incentive compensation of up to a maximum of 2050% of Manager's Executive’s annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.

Appears in 2 contracts

Samples: Employment Agreement (First Mid Illinois Bancshares Inc), Employment Agreement (First Mid Illinois Bancshares Inc)

Incentive Compensation Plan. Manager Executive shall continue to participate in the First Mid-Illinois Bancshares, Inc. Incentive Compensation Plan in accordance with the terms and conditions of such Plan. Pursuant to the Plan, Manager Executive shall have an opportunity to receive incentive compensation of up to a maximum of 2025% of Manager's Executive’s annual base salary. The incentive compensation payable for a particular fiscal year will be based upon the attainment of the performance goals in effect under the Plan for such year and will be paid in accordance with the terms of the Plan and at the sole discretion of the Board.

Appears in 1 contract

Samples: Employment Agreement (First Mid Illinois Bancshares Inc)

Time is Money Join Law Insider Premium to draft better contracts faster.